Finra Series-6 Exam - Topic 4 Question 55 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 55
Topic #: 4

On Friday, August 6th, the Board of Directors of Ecolab (ECI) announced that it would pay a dividend of $0.155 a share to shareholders of record as of Tuesday, September 21st.The dividend checks were scheduled to be mailed on Friday, October 15th. In this scenario, the payment date is:

AFriday, August 6th.

BFriday, September 17th.

CTuesday, September 21st.

Dnone of the above.

Show Suggested Answer

Suggested Answer: D

After his market order to buy shares of GOOG is executed, Mr. Shortfall must pay for the shares within 5 business days. If he is unable to do so within this time period, GetErDone can request an extension from FINRA or another SRO for him.

by Elke at Feb 06, 2023, 08:53 PM

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Delfina

10 months ago

I agree, it's confusing but the checks go out on October 15th!

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Weldon

10 months ago

Wait, are we sure about that? I thought it was the record date.

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Gail

10 months ago

Definitely D, none of the above!

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Malinda

11 months ago

I think it's C, September 21st, but that's just the record date.

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Erick

11 months ago

The payment date is October 15th, not any of those options.

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Jean

11 months ago

I’m leaning towards option C, Tuesday, September 21st, since that’s when shareholders of record are noted, but I’m not completely confident.

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Kindra

11 months ago

I feel like the payment date is the date the dividend is actually sent out, which would be October 15th, but I guess that’s not listed.

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Ryan

11 months ago

I remember something about record dates and payment dates from practice questions, but I’m not sure which one is which.

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William

11 months ago

I think the payment date is when the checks are mailed, so it should be October 15th, but that’s not an option here.

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Princess

11 months ago

Ah, I remember learning about this in class. The correct answer is B, Standard Template.

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Jess

11 months ago

Hmm, I'm a bit confused by this question. I'm not sure how creating role-based groups would increase the complexity of key tasks. That doesn't seem to make sense to me. I'll have to think this through more carefully.

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Cyril

1 year ago

I bet the CFO at Ecolab is having a dividendful day with this announcement!

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Cristy

1 year ago

I'm pretty sure the answer is C. Tuesday, September 21st. It's the date the shareholders of record are set, so that's when the payment should be made.

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Ciara

1 year ago

Definitely, it's good to know when to expect dividend payments.

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Glenna

1 year ago

It's important to keep track of these dates as a shareholder.

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Josephine

1 year ago

Yes, that's correct. The dividend checks will be mailed on that day.

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Jerry

1 year ago

I agree, the payment date is Tuesday, September 21st.

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Monte

1 year ago

Hmm, this one's tricky. I'm going to go with C. Tuesday, September 21st. It makes sense that the payment date would be the date the shareholders of record are determined.

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